CHICAGO, Oct. 28, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Boise Cascade Company (NYSE:BCC-Free Report), PGT, Inc. (Nasdaq:PGTI-Free Report) and NVR, Inc. (NYSE:NVR-Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Monday's Analyst Blog:
3 Stocks for Good Housing Numbers
Two sets of data released last week suggest that the U.S. housing recovery is still on track. Existing home sales numbers touched their highest level for the year. Additionally, sales of new home sales hit a six-year high, reinforcing the view that better days are ahead for the housing sector.
Existing Home Sales Jump
Existing home sales rose at a pace of 2.4% in September from August to a seasonally adjusted annual rate of 5.17 million. The sales figure also came in ahead of consensus estimate of 5.09 million. This was the highest rate recorded so far this year.
A relatively weak period in August had led market watchers to question whether the recovery was slackening. These numbers indicate that housing purchases are improving once again. Additionally, interest rates are at record low levels. An improving jobs market has also boosted consumer confidence.
New Home Sales Impress
Data on new home sales was also encouraging. New home sales increased 0.2% in September to seasonally adjusted annual rate of 467,000. However, this rise in new home sales was less than the consensus estimate of an increase to 471,000. At the same time, data for August was revised sharply downward. August numbers were revised from the initial estimate of 504,000 to 466,000.
But at the same time, sales of new homes touched a six-year high in September. September sales also improved 17% year on year. New home sales data often varies widely from month to month. This is why a long term view is a better indicator of the housing sector. In the third quarter, average new home sales came in at 446,000. This is 15% higher than the same period in 2013.
Our Choices
Below we present three stocks which will gain from these trends, each of which also has a good Zacks rank.
Boise Cascade Company (NYSE:BCC-Free Report) manufactures wood products and distributes building materials. The company has operations across both the U.S. and Canada. Boise has two operating segments, wood products and building materials. The company produces particleboard, plywood, lumber and engineered wood products. It also distributes a range of building materials. This includes wood products produced by Boise's wood products division.
Boise Cascade holds a Zacks Rank #1 (Strong Buy) and has expected earnings growth of 58.6%. The forward price-to-earnings ratio (P/E) for the current financial year (F1) is 18.17.
PGT, Inc. (Nasdaq:PGTI-Free Report) supplies and manufactures impact-resistant windows and doors for residential homes. PGT's impact-resistant products are marketed under three brand names. These are: PremierVue, PGT Architectural Systems and WinGuard. The company's products use a combination of aluminium or vinyl frames and laminated glass. Such products provide protection against hurricanes and debris carried by such winds.
Apart from a Zacks Rank #1 (Strong Buy), the company has expected earnings growth of 6.4%. It has a P/E (F1) of 20.94x.
NVR, Inc. (NYSE:NVR-Free Report) is a homebuilding company. NVR constructs and sells single family detached homes, condominiums and townhomes. These are marketed under the following brand names: Fox Ridge Homes, Ryan Homes, NVHomes and Rymarc Homes. NVR's homebuilding operations are conducted directly. The company also offers mortgage banking and title services through a subsidiary company called NVR Mortgage Finance, Inc.
NVR, Inc. holds a Zacks Rank #2 (Buy) and has expected earnings growth of 19.9%. It has a P/E (F1) of 18.34x.
Recent numbers indicate that the housing sector continues to undergo a steady recovery. Declining unemployment and improving economic growth is expected to boost this recovery in the days ahead. This is why these stocks would make good additions to your portfolio.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
Get the full Report on BCC - FREE
Get the full Report on PGTI - FREE
Get the full Report on NVR - FREE
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Logo - http://photos.prnewswire.com/prnh/20101027/ZIRLOGO
SOURCE Zacks Investment Research, Inc.
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article